Commodity Market: Support and Resistance Levels for Thursday (November 3rd 2016)

Written by Miroslav Marinov

Miroslav Marinov, a financial news editor at TradingPedia, is engaged with observing and reporting on the tendencies in the Foreign Exchange Market, as currently his focus is set on the major currencies of eight developed nations worldwide.

, | Updated: October 30, 2024

Silver (SI) for December delivery (1 Troy Ounce)

R1 – $18.729
R2 – $18.765
R3 (Range Resistance – Sell) – $18.800
R4 (Long Breakout) – $18.908
R5 (Breakout Target 1) – $19.033
R6 (Breakout Target 2) – $19.090

S1 – $18.657
S2 – $18.622
S3 (Range Support – Buy) – $18.586
S4 (Short Breakout) – $18.479
S5 (Breakout Target 1) – $18.353
S6 (Breakout Target 2) – $18.296

Copper (HG) for December delivery (1 Pound)

R1 – $2.2333
R2 – $2.2360
R3 (Range Resistance – Sell) – $2.2388
R4 (Long Breakout) – $2.2470
R5 (Breakout Target 1) – $2.2566
R6 (Breakout Target 2) – $2.2608

S1 – $2.2278
S2 – $2.2250
S3 (Range Support – Buy) – $2.2223
S4 (Short Breakout) – $2.2140
S5 (Breakout Target 1) – $2.2044
S6 (Breakout Target 2) – $2.2002

Soybeans (ZS) for January 2017 delivery (in US cents per 1 Bushel)

R1 – 987.6
R2 – 988.7
R3 (Range Resistance – Sell) – 989.9
R4 (Long Breakout) – 993.3
R5 (Breakout Target 1) – 997.4
R6 (Breakout Target 2) – 999.0

S1 – 985.2
S2 – 984.1
S3 (Range Support – Buy) – 982.9
S4 (Short Breakout) – 979.5
S5 (Breakout Target 1) – 975.4
S6 (Breakout Target 2) – 973.8

Corn (ZC) for December delivery (in US cents per 1 Bushel)

R1 – 346.8
R2 – 347.3
R3 (Range Resistance – Sell) – 347.9
R4 (Long Breakout) – 349.6
R5 (Breakout Target 1) – 351.6
R6 (Breakout Target 2) – 352.4

S1 – 345.6
S2 – 345.1
S3 (Range Support – Buy) – 344.5
S4 (Short Breakout) – 342.8
S5 (Breakout Target 1) – 340.8
S6 (Breakout Target 2) – 340.0

Chicago Soft Red Winter Wheat (SRW) for December delivery (in US cents per 1 Bushel)

R1 – 418.4
R2 – 419.1
R3 (Range Resistance – Sell) – 419.9
R4 (Long Breakout) – 422.1
R5 (Breakout Target 1) – 424.7
R6 (Breakout Target 2) – 425.9

S1 – 416.8
S2 – 416.1
S3 (Range Support – Buy) – 415.3
S4 (Short Breakout) – 413.1
S5 (Breakout Target 1) – 410.5
S6 (Breakout Target 2) – 409.3

Natural Gas (NG) for December delivery (1 Mmbtu)

R1 – $2.803
R2 – $2.814
R3 (Range Resistance – Sell) – $2.825
R4 (Long Breakout) – $2.858
R5 (Breakout Target 1) – $2.897
R6 (Breakout Target 2) – $2.913

S1 – $2.781
S2 – $2.770
S3 (Range Support – Buy) – $2.759
S4 (Short Breakout) – $2.726
S5 (Breakout Target 1) – $2.687
S6 (Breakout Target 2) – $2.671

Crude Oil (CL) for December delivery (1 Barrel)

R1 – $45.48
R2 – $45.62
R3 (Range Resistance – Sell) – $45.76
R4 (Long Breakout) – $46.17
R5 (Breakout Target 1) – $46.66
R6 (Breakout Target 2) – $46.86

S1 – $45.20
S2 – $45.06
S3 (Range Support – Buy) – $44.92
S4 (Short Breakout) – $44.51
S5 (Breakout Target 1) – $44.02
S6 (Breakout Target 2) – $43.82

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